CBDT haS vide Notification No. 30/2016 dated 29.04.2016 has inserted
sub-rule Rule 3A and 3B and amended Sub Rule- 3 & 4 of Income Tax Rule-37CA
related to Time and mode of payment to Government account of tax collected
at source under section 206C. Revised Provisions related to payment of TCS and
its mode wef 01.06.2016 are as follows :-
37CA. (1) All sums collected in
accordance with the provisions of sub-section (1) or sub-section (1C) of
section 206C by an office of the Government shall be paid to the credit of the
Central Government—
(a) on the same day where the tax is so paid without
production of an income-tax challan; and
(b) on or before seven days from the end of the
month in which the collection is made, where tax is paid accompanied by an
income-tax challan.
(2) All sums collected in accordance with the provisions
of sub-section (1) or sub-section (1C) of section 206C by collectors other than
an office of the Government shall be paid to the credit of the Central
Government within one week from the last day of the month in which the
collection is made.
(3) In the case of an office of the Government, where tax
has been paid to the credit of the Central Government without the production of
a challan, the Pay and Accounts Officer or the Treasury Officer or the Cheque
Drawing and Disbursing Officer or any other person by whatever name called to
whom the collector reports the tax so collected and who is responsible for
crediting such sum to the credit of the Central Government,shall submit a
statement in Form No. 24G to the agency authorised by the Principal Director of
Income-tax (Systems) in respect of tax collected by the collectors and reported
to him.
(3A) Statement referred to in sub-rule (3) shall be
furnished-
(a)
on or before the 30th day of April where the statement relates to the month of
March; and
(b)
in any other case, on or before 15 days from the end of relevant month.
(3B) Statement referred to in sub-rule (3) shall be
furnished in the following manner, namely:-
(a) electronically under digital signature in accordance
with the procedures, formats and standards specified under sub-rule (4); or
(b) electronically along with the verification of the
statement in Form 27A or verified through an electronic process in accordance
with the procedures, formats and standards specified under sub-rule (4).
(4) The Principal Director General of
Income-tax (Systems) shall specify the procedures, formats and standards for
the purposes of furnishing and verification of the statements and shall be
responsible for the day-to-day administration in relation to furnishing of the
information and verification of the statements.
(5) (i) Where tax has been deposited accompanied
by an income-tax challan, the tax collected under sub-section (1) or
sub-section (1C) of section 206C shall be deposited to the credit of the
Central Government by remitting it within the time specified in clause (b)
of sub-rule (1) or in sub-rule (2) into any branch of the Reserve Bank of India
or of the State Bank of India or of any authorised bank.
(ii) Where tax is to be deposited in accordance
with clause (i), by persons referred to in sub-rule (1) of rule 125, the
amount collected shall be electronically remitted into the Reserve Bank of
India or the State Bank of India or any authorised bank accompanied by an
electronic income-tax challan.
(6) For the purpose of this rule, the amount shall be
construed as electronically remitted to the Reserve Bank of India or to the
State Bank of India or to any authorised bank, if the amount is remitted by way
of—
(a) internet banking facility of the Reserve Bank of
India or of the State Bank of India or of any authorised bank; or
(b) debit card.
(7) Where tax is collected before the 1st day of April,
2010, the provisions of this rule shall apply as they stood immediately before
their substitution by the Income-tax (Sixth Amendment) Rules
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